F.A.Q’s

Q: What determines the value of my rental property?
A. Ultimately the rental market that fluctuates depending on current market conditions. We offer a detailed market analysis and work with you to optimize your rent based on your goals.

Q: How are the security deposits handled?
A: Security deposits are deposited into our account when received and transferred to the owner as soon as the cheques clear. They are applied to the last months rent.

Q: How are tenants selected?
A: Please check out our thurough 10 step selection process Here.

Q: Do I pay for processing the tenants’ applications?
A: No. This service is included in our fee.

Q: Who pays for maintenance and repairs to my property?
A: The owner pays for maintenance and repairs, unless the tenant has agreed to assume responsibility.

Q: Who pays for the marketing of my property?
A: Revelstoke Property Services pays for all signage and administration costs related to the marketing of your property for rent. Placement on our website is free of charge. There are also a number of relevant internet sites we use for advertising and we include any administration costs free of charge.

Q: Are property management fees tax deductible?
A: Generally, yes, as they are a direct expense item. However, you should confirm this with your tax advisor, as your specific situation may be different.

Q: What is typically involved in preparing a property to be rented?
A: All properties should be in move in condition. This includes all walls in good repair, no outstanding maintenance issues and appliances in good working order. Your property will rent quicker and demand a higher rental value if it is in good condition. We inspect your home as part of our start up and tenant move in process. See Our Services section for more information.

Q: What are my rights as a property owner?
A: Please find all of the information on this subject in the BC Landlords and Tenant Board It is a fairly lengthy document but well worth reading for all owners and tenants. You can view it here – http://www.rto.gov.bc.ca

Q: What are my tenant’s rights?
A: Please find all of the information on this subject in the BC Landlords and Tenant Board It is a fairly lengthy document but well worth reading for all owners and tenants. You can view it here – http://www.rto.gov.bc.ca

Q: What is my tenant responsible for as it relates to the property.
A: In general the tenant is responsible for any damages they have directly caused to your property. We will handle completing any repairs and coordinate payment from the tenant as a result of this damage. To find out all the details regarding tenant responsibility and rights, please see the BC Residential Tenancy Agreement here – http://www.rto.gov.bc.ca

Q: I have read lately about “bad” tenants who cause severe damage to properties and refuse to pay their rent. How should I avoid this?
A: The best way to protect yourself is through a proper tenant screening process, which we provide, and you can find the details on Here. However, there is a very small chance a bad tenant still occurs. In this instance, we can assist as much as possible to help in the eviction process.

Q: Do you take care of evicting tenants?
A: If a tenant does not pay their rent on time, we coordinate the entire eviction process with your approval. We operate under the BC Tenancy Act when evicting a tenant to ensure the process is done legally.

Q: Under what circumstances can a tenant break their lease?
A: Please find all of the information on this subject here – http://www.rto.gov.bc.ca/content/rightsResponsibilities/ending.aspx

Q: Do you make sure my rental property is safe and secure?
A: When we inspect a property, we look to see that it is safe, well maintained and has working smoke detectors.

Q: Does Revelstoke Property Service also purchase and sell real estate?
A: Revelstoke Property Service is only in the business of property management. We work with Realtors all the time and if you need assistance in the buying or selling of property we can suggest a real estate broker for you.

Q: Can Revelstoke Property Service help me look for other investment properties?
A: Revelstoke Property Service has access to a number of Realtors and also tools allowing you to search for properties.

Q: What is included in your $80.00 set up fee?
A: As a property manager most of our time and costs occur upfront in the administration and execution of services regarding your property. This includes setting you up in our system, preparing and executing all legal documents, inspecting, preparing and showing your property. This one-time setup fee helps to offset some of these initial costs.

Q: What if there is a serious problem late in the night with one of my rental units like the furnace does not work. Can you fix it immediately?
A: We offer a 24-hour emergency repair service to all our owners.

Q: I am a non-resident of Canada and own an investment rental property. What are my tax implications?
A: Non-Residents of Canada or investors from another country who own investment properties in Canada which generate rental revenues are required to pay 25% of the annual income to Revenue Canada. Please contact your accountant or a tax professional for full advice and information regarding this.